INTEGRATION POLICY OF CHINA

Subject of the study is China's Free Trade Agreements (FTAs), established or under negotiation. The aim is to identify the features and causes of the design of China's integration system and integration policy, to identify strategic directions. Methodology: system approach, quantitative and qualitative analysis. Results: based on the analysis of Сhina's FTA with Hong Kong, Macau, Thailand, Chile, Pakistan, Peru, Costa Rica, Switzerland, Iceland, Georgia, Maldives, as well as with individual ASEAN and ASEAN+6 countries, and these groups in general, the causes, features and strategic directions of its integration system and integration policy have been identified. Scope: taking advantage of China's FTA in the framework of OBOR. Conclusions: 1. Reasons for designing the China's integration system: Chinese pan-Asiatism; the concept of Greater China; the principle of «one country, two systems»; cooperation in Asia; access to resources and remote markets; the growth of openness; accelerating reforms; WTO plus; liberalization and facilitation of trade and investment procedures in the OBOR; industrial economy; optimization of the GVCs. 2. Features of China's integration system and integration policy: FTAs with countries of different levels of development; a deep, comprehensive form of FTAs; revision, modernization of the FTAs; the predominance of bilateral inter-regional FTAs «country-country»; signing of FTAs not only with major trading partners; diversification of trade, access to new markets through the conclusion of the FTAs; positive effect of trade creation in most FTAs; a decline in the share of FTA partners in China's trade with the global economy. 3. Strategic directions of China's integration policy: redirection from the neighbouring region of South-East Asia to create a trade and investment contour in the OBOR; diversification of China's trade through FTAs with countries in Europe, America, Africa, Oceania.